Section 144 of Finance Act 2018 : Amendment of section 8A

By | April 1, 2018
(Last Updated On: April 20, 2018)

Section 144 of Finance Act 2018

[Section 144 of Finance Act 2018 deals with Amendment of section 8A and is covered in CHAPTER VIII MISCELLANEOUS]

Amendment of section 8A

144. In the principal Act, in section 8A, in sub-section (1),—

(a)for the words “twenty thousand rupees”, the words “twenty-five thousand rupees” shall be substituted;
(b)in the proviso, for the words “fifteen hundred rupees”, the words “two thousand rupees” shall be substituted;
(c)after the proviso, the following sub-section shall be inserted, namely:—
“(1A) The pension and additional pension to every person shall be increased after every five years commencing from 1st April, 2023 on the basis of Cost Inflation Index provided under clause (v) of Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961).”.

Finance Act 2018 : Assented by President : Download Print Notification

 

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